ProFrac Q1 revenue fell 25% as operating income swung to -$46M loss; net loss widened to $83M

Filed May 8, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 7, 2025 · ~2 min read

Key Changes

• high

  Revenue fell 25.1% YoY to $449.6M as stimulation pricing declined, active fleets dropped, and January weather disrupted operations. Operating income swung from $16.0M profit to -$46.4M loss; net loss widened from $17.5M to $83.5M.

  MD&A: Consolidated Results verify on EDGAR →
• high

  ABL facility amended in March: commitment cut to $275M, maturity extended six months to Sept 2027, SOFR margins raised with quarterly step-ups to 3.00–3.50%, and minimum availability covenant increased to $45M from $15M liquidity.

  MD&A: Liquidity / Notes: Debt verify on EDGAR →
• high

  Alpine Term Loan leverage covenant deferred two years to March 2028 from March 2026, providing additional runway before the 2.00x maximum Total Net Leverage Ratio test becomes effective.

  MD&A: Liquidity / Notes: Debt verify on EDGAR →